buy-out — In the context of pensions, the securing of one or more members benefits by purchasing an annuity from an insurance company. It is the most expensive method of securing benefits and is used to determine the employer debt that arises under section … Law dictionary

buy out — ► buy out 1) pay (someone) to give up an interest or share in something. 2) (buy oneself out) obtain one s release from the armed services by payment. Main Entry: ↑buy … English terms dictionary